The most expensive cities in the world for international employees in 2023 revealed

What has happened? Consulting company Mercer has published a report on the cost of living in 227 cities around the world. The study is designed to help multinational companies determine and maintain compensation packages for employees on international assignments and when working full-time abroad

How did they count? New York City was used as the base city for all city ranking comparisons. Currency movements were measured against the US dollar. Experts have evaluated the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment. 

TOP 10 most expensive cities in the world:

• Hong Kong
• Singapore
• Zurich, Switzerland
• Geneva, Switzerland
• Basel, Switzerland
• New York, USA
• Bern, Switzerland
• Tel Aviv, Israel
• Copenhagen, Denmark
•   Nassau, Bahamas

Key facts:

• The least expensive locations in the ranking include Havana, which dropped 83 spots, due in part to strong currency devaluations mid last-year, and two cities in Pakistan — Karachi and Islamabad.
• The global top ten includes five European cities and four of those are in Switzerland, with the fifth being Copenhagen. Other most expensive cities in the region include London, Vienna, Amsterdam, Prague (up 27 spots in the global ranking since last year) and Helsinki
• Tel Aviv remains the costliest city in the Middle East for international employees, ranked 8th on the global ranking. The next most expensive cities in this region are in the United Arab Emirates, namely Dubai (18) and Abu Dhabi (43), both of which have significantly strengthened their positions since last year.
• Within Central and South America, Nassau ranks as the most expensive location for international employees (number 10 globally), followed by San Juan (44) and Buenos Aires (45). It is worth noting that several locations within the region rank significantly higher than last year, with a move up of 76 spots for San Jose and 70 spots for Mexico City.
• New York City (number six in the global ranking) continues to be the most expensive city in North America, followed by Los Angeles (11) and San Francisco (14). All US cities in the ranking have gone up since last year, with the largest changes being for Detroit (+27 positions), Houston and Cleveland (both +24 positions).
• African cities placed highest in the global cost of living ranking are Bangui (26), Djibouti (27) and Luanda (30). The least expensive cities in the region include Windhoek, Durban and Tunis. Notably, these follow quite closely behind Cairo, which dropped 63 spots since last year.

Source: Mercer

Photo by Nejc Soklič on Unsplash

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